U.S. Soybean Harvest Approaches Completion, Corn at 71 Percent

U.S. Soybean Harvest Approaches Completion, Corn at 71 Percent

Most CME grain prices witnessed an upward trend on Tuesday. The only grain that experienced a decrease was December wheat, which dropped by $0.0975 and closed at $5.56/bu. November soybeans increased by $0.0425 and settled at $12.87/bu. Additionally, December soymeal rose by $4.50 and closed at $431.00/st., and December corn rose by $0.005 to $4.78/bu. Soybeans experienced the most positive movement due to the anticipation that the USDA’s upcoming monthly report will reveal the highest ever September soybean crush. In addition, wheat prices declined following the USDA’s announcement that the quality of this year’s winter wheat crop has started off much better than last year.
 
Crop Progress October 30


Based on the most recent Crop Progress report from the USDA, as of October 29th the corn harvest was at 71 percent completion on the national level, up…

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